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The Saint Lucia Citizenship by Investment Board (CIB) has issued a statement following the voluntary dismissal of a lawsuit filed in a U.S. Federal Court against Mr. Mc Claude Emmanuel, the Chief Executive Officer of the Citizenship by Investment Unit.

The lawsuit, initiated by Mr. Philippe Martinez, a St. Kitts-based developer with no business ties to Saint Lucia, accused the Unit of misconduct. However, the CIB has strongly refuted the claims, labeling the lawsuit as a baseless attempt to tarnish the reputation of the Unit and its leadership, as well as its network of partners, including banks, authorized agents, and promoters.

“This lawsuit had no merit from the outset,” the CIB stated. “It was a frivolous attempt to undermine the credibility of the Citizenship by Investment Programme and its management.”

The Board emphasized that the lawsuit’s withdrawal further underscores the lack of credibility surrounding Mr. Martinez’s allegations. The CIB also disclosed that last-minute attempts for a financial settlement were firmly rejected, reinforcing its commitment to integrity and due diligence.

The controversy unfolds as Saint Lucia continues to position its Citizenship by Investment Program as a global leader, recognized for its rigorous due diligence and adherence to transparency and good governance. The program’s robust framework includes partnerships with other OECS CIB programs and collaborations with international stakeholders such as governments, the European Union, and the U.S. State Department.

The Saint Lucia Citizenship by Investment Board reassured the public of its unwavering commitment to ensuring that the Unit’s operations remain compliant with all regulatory requirements, reflecting its dedication to upholding the business of the state with the highest standards of integrity.

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